Obama supports renewable energy

President Barack Obama has signed a bill in America, which includes major spending and tax provisions intended to promote renewable energy and energy efficiency.

According to Fuel Cell Today, on 17th February, Obama signed the American Recovery and Reinvestment Act of 2009.

Included in the bill are changes to current tax credits, and details of new budgets, which will enable hydrogen to be more widely used as a fuel substitute.

The maximum tax credit for building a hydrogen fuelling station was increased from $30,000 to $200,000.

The cap on Investment Tax Credit (ITC) for residential fuel cells was increased to $3,334 per kW, and project developers can now apply for a cash grant in place of the ITC credit.

The bill also includes $16.8mn for the US Department of Energy’s (DOE) Energy Efficiency and Renewable Energy Office, where the fuel cell and hydrogen programme resides, as well as billions for energy efficiency and conservation block grants.

Details of how the US DOE will spend the stimulus money are likely to be released at the National Hydrogen Association’s upcoming 2009 conference.

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